Everyone needs a house, they don't need gold, silver, shares, fixed interest, they do need a roof over their head.
I'll give you an example. I built a house in Auckland for my mother in 1986, it cost $140,000 all up, I've still got it. My mother lived in it for years and I've been renting it for about 7 years. Current value about $1.3m.
Yes, I've had to pay rates, insurance, repairs, improvements, but it's been a real winner.
It can have its pitfalls, no doubt about it, but with good management and carefully selected tenants you can make a lot.
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